Compression Therapy Global Market Report 2024

“Compression Therapy Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on compression therapy market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for compression therapy? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The compression therapy market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Product: Compression Pumps; Compression Stockings; Compression Bandages; Compression Tapes
• 2) By Technique: Static Compression Therapy; Dynamic Compression Therapy
• 3) By Application: Varicose Vein Treatment; Deep Vein Thrombosis Treatment; Lymphedema Treatment; Leg Ulcer Treatment; Other Applications
• Companies Mentioned: 3M Company; ArjoHuntleigh AB; Bio Compression Systems Inc.; BSN Medical GmbH; Cardinal Health Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Compression therapy refers to a treatment that promotes better blood flow to the foot, ankles, and lower legs. It works well to relieve discomfort and swelling brought on by circulatory disorders such as chronic venous insufficiency and varicose veins.

The main types of products in the compression therapy market are compression pumps, compression stockings, compression bandages, and compression tapes. Compression pumps are either used for acute care (in the hospital, temporary) or chronic care (long term, often at home or an extended care facility). These pumps are designed to treat either venous insufficiency, lymphedema, or the treatment of DVTs and differ in the cycle time of the squeeze. Major technology involved in compression therapy includes static compression therapy and dynamic compression therapy. Compression therapy is applied in various areas, including varicose vein treatment, deep vein thrombosis treatment, lymphedema treatment, leg ulcer treatment, and others.

The compression therapy market research report is one of a series of new reports from The Business Research Company that provides compression therapy market statistics, including compression therapy industry global market size, regional shares, competitors with a compression therapy market share, detailed compression therapy market segments, market trends and opportunities, and any further data you may need to thrive in the compression therapy industry. This compression therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The compression therapy market size has grown strongly in recent years. It will grow from $4 billion in 2023 to $4. 36 billion in 2024 at a compound annual growth rate (CAGR) of 8. 9%. The growth in the historic period can be attributed to aging population, increased prevalence of chronic venous diseases, growing awareness about the benefits, rising incidence of diabetes and obesity-related conditions, expansion of indications for compression therapy.

The compression therapy market size is expected to see strong growth in the next few years. It will grow to $6. 21 billion in 2028 at a compound annual growth rate (CAGR) of 9. 2%. The growth in the forecast period can be attributed to increasing healthcare spending and improved access, growth in the geriatric population, rising prevalence of lymphedema and other chronic conditions, expansion of applications in sports and fitness, higher adoption of compression therapy in hospitals. Major trends in the forecast period include development of wearable and smart compression devices, customization of compression therapy solutions, integration of compression therapy in wound care management, emphasis on patient comfort and compliance in compression therapy, collaboration between manufacturers and healthcare providers for improved patient outcomes.

The rise in the geriatric population is contributing to the growth of the compression therapy market. The share of the aged population in many countries across the globe is rapidly growing. The old population is vulnerable to different chronic diseases. Compression therapy is a simple and efficient way to enhance vein support and increase blood flow efficiency in the lower limbs. Compression therapy is most commonly used in the elderly population with chronic venous illness. For instance, in October 2022, according to a report published by the World Health Organization (WHO), a Switzerland-based agency responsible for international public health, one in six people is expected to be 60 or older by the year 2030, in the entire world. By 2050, there will be 2. 1 billion people worldwide who are 60 years old or older. Therefore, the increasing geriatric population is expected to aid the growth of the compression therapy market.

The rising prevalence of chronic diseases is expected to boost the growth of the compression therapy market going forward. Chronic diseases, also known as non-communicable diseases (NCDs), are long-term health conditions that persist over an extended period and often progress slowly. The presence of symptoms such as diabetes, edema, ulcers, and circulatory issues in many chronic diseases necessitates the use of compression therapy, compelling patients to seek such treatment. For instance, in July 2021, according to the International Diabetes Federation (IDF), a Belgium-based diabetes organization, the number of persons with diabetes worldwide is predicted to reach 537 million in 2021, 643 million in 2030, and 783 million in 2045. In addition, it was anticipated that 541 million people would have impaired glucose tolerance by 2021. Additionally, it is anticipated that in 2021, nearly 6. 7 million people between the ages of 20 and 79 will pass away due to complications from diabetes. Therefore, the rising prevalence of chronic diseases is driving the growth of the compression therapy market.

Major companies operating in the compression therapy market are developing innovative products such as wearable compression systems to meet larger customer bases, more sales, and increase revenue. A wearable compression system refers to a medical device designed to provide continuous or intermittent compression therapy to a specific area of the body, typically the limbs. For instance, in April 2022, Koya Medical Inc., a US-based medical technology company, launched the Dayspring active compression system. One distinctive characteristic of this product is its ability to accommodate the body's movements during treatment, a capability that sets it apart from traditional pneumatic (air-based) compression pumps. Unlike conventional devices that demand patients to remain stationary and be tethered to electrical outlets, this system allows individuals to engage in their daily activities while undergoing treatment. The Dayspring system is designed to address lymphedema and venous diseases in the lower extremities. As per Koya, it's worth noting that the Dayspring system marks the pioneering FDA-approved non-pneumatic active dynamic compression treatment of its kind. The system comprises a comfortable, breathable mesh garment, incorporating the company's proprietary Flexframe technology, to deliver controlled and personalized compression while allowing for natural mobility. Additionally, it features an intelligent, rechargeable controller with Bluetooth capabilities, complemented by companion software for tailoring treatments and assessing treatment records.

Major companies operating in the compression therapy market are developing innovative products such as pneumatic compression devices to meet larger customer bases, more sales, and increase revenue. Pneumatic compression devices are medical devices designed to aid in the treatment of various circulatory and vascular conditions. For instance, in September 2023, AIROS Medical Inc., a US-based medical equipment manufacturer, launched the AIROS 6P sequential compression device. The AIROS 6P sequential compression device boasts a unique feature set, including a Peristaltic Mode functionality, which offers a wave-like inflation and deflation sequence preferred by physicians and lymphedema therapists, primarily available for upper extremity treatment. Additionally, it comes with an upgraded electrical rating, allowing it to operate at 100-240 VAC, making it suitable for use worldwide. Furthermore, the device features a larger air pump, enabling treatment for the newer, larger garments required for some lymphedema patients.

In March 2021, Direct Healthcare Group (DHG) Ltd., a UK-based medical device company, acquired Talley Group Ltd. for an undisclosed amount. The acquisition is aimed at bolstering DHC's existing pressure ulcer prevention portfolio while also facilitating its entry into the Negative Pressure Wound Therapy (NPWT) and Intermittent Pneumatic Compression (IPC) therapy markets. DHG's acquisition of Talley Group Ltd. further enhances its clinically oriented pressure area care division. The inclusion of the Quattro and Duocare product lines now offers a genuinely comprehensive portfolio to its customers. The synergy of DHG and Talley's proficiency in manufacturing pressure area care equipment is poised to guarantee customers a consistent supply of top-quality, cost-effective products that deliver improved health outcomes and economic efficiencies. Talley Group Ltd. is a US-based compression therapy provider.

Major companies operating in the in the compression therapy market report are 3M Company, ArjoHuntleigh AB, Bio Compression Systems Inc., BSN Medical GmbH, Cardinal Health Inc., ConvaTec Inc., DJ Orthopedics Global Inc., Julius Zorn GmbH, medi GmbH & Co KG, Medtronic plc, Paul Hartmann AG, Sanyleg Srl, Sigvaris Management AG, Smith & Nephew plc, Tactile Systems Technology Inc., Thuasne SA, ATI Physical Therapy, Bauerfeind AG, Biohorizons Implant Systems Inc., Encompass Health Corporation, Essity AB, Hanger Clinic, Kinetec SAS, Lympha Press International Inc., Medi USA, National Seating & Mobility Inc., Norton Healthcare Inc., NovaSom Inc., Optima Molliter Srl, Physio-Control Corporation, Select Medical Corporation, Sigvaris Group

North America was the largest region in the compression therapy market in 2023. Europe was the second-largest market in the compression therapy market. The regions covered in the compression therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the compression therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The compression therapy market includes revenues earned by entities by relieving tight muscles, decreasing pain, and promote relaxation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.